Higher than predicted inflation in September 2022 will increase spending on working-age benefits and pensions in April 2023

Spending on pensions and working-

age benefits

£325 billion

IFS-Citi October 2022

300

275

OBR March 2022

250

OBR October 2021

225

200

2021-22

2022-23

2023-24

2024-25

2025-26

2026-27

Spending on pensions and working-age benefits

£325 billion

IFS-Citi October 2022

300

275

OBR March 2022

OBR October 2021

250

225

200

2021-22

2022-23

2023-24

2024-25

2025-26

2026-27

Guardian graphic. Source: IFS analysis of data from the Office for Budget Responsibility, Economic and Fiscal Outlook, October 2021, March 2022